Cyprus has the most favourable tax system for the companies incorporated or registered under any Cyprus law, and any foreign company which carries on business or has an office or place of business (permanent establishment) in Cyprus.
Now at 12.5% corporate tax, Cyprus has the lowest rates in the EU, together with Ireland (12.5%) and exemptions for certain inter-company dividends.
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The Cyprus Council of Ministers passed Decree No. 349/2024 on 31 October 2024. The Decree amends the VAT law to introduce a temporary zero VAT rate on certain essential items. The zero VAT rate will apply to basic essentials such as baby and
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Read More The tax authority has published additional frequently asked questions (FAQs) numbered 25 – 43 to provide clarity on specific provisions of the new transfer pricing rules in Cyprus. Notably, FAQ 25 clarifies that taxpayers do not need to
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